NEW YORK--(BUSINESS WIRE)-- Pfizer Japan Inc. (“Pfizer,” headquarters: Shibuya-ku, Tokyo) and Takeda Pharmaceutical Company Limited (“Takeda,” headquarters: Chuo-ku, Tokyo) announced today an agreement to extend the period for co-promotion in Japan for the rheumatoid arthritis (RA) drug Enbrel® (generic name: etanercept). The companies also signed a new co-promotion agreement in Japan for the investigational drug tofacitinib (development code: CP-690,550), formerly known as tasocitinib, which is being studied for multiple inflammatory conditions, including rheumatoid arthritis. The co-promotion agreement between Takeda and Pfizer for Tofacitinib is for RA and certain other potential indications in Japan. Pfizer will receive a milestone payment from Takeda at the launch of Tofacitinib and Takeda will receive a percentage of sales (based on certain conditions specified in the contract) as a co-promotion fee from Pfizer. Contractual details are not disclosed.

“We are looking forward to the next phase of our successful partnership with Takeda,” said Michael Goettler, regional president of Asia-Pacific and Japan Head, Specialty Care Business Unit, Pfizer. “We are proud of our current inflammation product portfolio, and excited about the prospect of bringing new innovative treatments to our patients.”

Enbrel® binds with tumor necrosis factor alpha (TNF alpha - a cytokine*), inhibiting its activity, and with lymphotoxin alpha (another cytokine), and reduces RA inflammation. The drug is currently approved in over 80 countries worldwide and is used by over 600,000 patients, including patients using the drug for indications other than RA.

Tofacitinib is a novel, oral Janus kinase (JAK)** inhibitor that is being investigated as a targeted immunomodulator in RA, psoriasis and other indications. Unlike current therapies for RA, tofacitinib takes a novel approach, targeting the intracellular signaling pathways that operate as hubs in the inflammatory cytokine network. Currently, in Japan, Pfizer is carrying out Phase 3 clinical trials of the investigational drug for RA and, in other countries, the company is also studying tofacitinib in psoriasis, Crohn’s disease and ulcerative colitis.

“With these new contracts, we will be able to further strengthen our initiatives in the rheumatoid arthritis field,” said Yasuhiko Yamanaka, a member of the board, senior vice president, Pharmaceutical Marketing Division of Takeda. “Takeda and Pfizer together provide Enbrel to patients suffering from RA, and if the development program is successful, we look forward to offering a new treatment option. We are committed to further contribution to treatments for RA therapy."

* A generic name for proteins which are released from cells and mediate cell-cell interactions. They play a key role in immunity, inflammation and biological defense.

** Tyrosine kinase is related to autoimmune diseases, such as RA, and plays a key role in signaling related to cell growth and differentiation (tyrosine kinase: an enzyme which adds phosphoric acid to tyrosine, one of amino acids that make up proteins)

About Pfizer Japan

Pfizer Japan Inc. has been working for a healthier world by providing pharmaceutical and animal health products since our establishment in 1953. We provide drugs that cover a wide range of disease categories, including cardiovascular, inflammation, central nervous system, infectious disease, urology, ophthalmology, oncology, endocrinology and vaccine etc. For further information, please visit us at www.pfizer.co.jp.

About Takeda

Located in Osaka, Japan, Takeda is a research-based global company with its main focus on pharmaceuticals. As the largest pharmaceutical company in Japan and one of the global leaders of the industry, Takeda is committed to strive towards better health for patients worldwide through leading innovation in medicine. Additional information about Takeda is available through its corporate website, www.takeda.com.

Pfizer Inc.: Working together for a healthier world™

At Pfizer, we apply science and our global resources to improve health and well-being at every stage of life. We strive to set the standard for quality, safety and value in the discovery, development and manufacturing of medicines for people and animals. Our diversified global health care portfolio includes human and animal biologic and small molecule medicines and vaccines, as well as nutritional products and many of the world’s best-known consumer products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as the world’s leading biopharmaceutical company, we also collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on us. To learn more about our commitments, please visit us at www.pfizer.com.

PFIZER DISCLOSURE NOTICE: The information contained in this release is as of February 3, 2011. Pfizer assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.

This release contains forward-looking information about new co-promotion agreements and a product in development, tofacitinib, including their potential benefits, that involves substantial risks and uncertainties. Such risks and uncertainties include, among other things, the uncertainties inherent in research and development; decisions by regulatory authorities regarding whether and when to approve any drug applications that may be filed for tofacitinib as well as their decisions regarding labeling and other matters that could affect its availability or commercial potential; and competitive developments.

A further description of risks and uncertainties can be found in Pfizer’s Annual Report on Form 10-K for the fiscal year ended December 31, 2009 and in its reports on Form 10-Q and Form 8-K.